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flygal Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:01 AM
Original message
Buffet, Soros make cable buys - CNN/Money
http://money.cnn.com/2005/02/15/news/fortune500/buffett...

snip

NEW YORK (CNN/Money) - Billionaire investors Warren Buffett and George Soros are getting hooked up with cable.

Filings with the Securities and Exchange Commission show Buffett's company, Berkshire Hathaway (Research), doubled its holdings in Comcast Corp. (Research), the nation's largest cable operator to 10 million shares, during the fourth quarter, while it dumped its shares in hospital operator HCA (Research) and slashed its holdings in athletic apparel manufacturer Nike (Research).

Soros Fund Management LLC disclosed in its own SEC filing that as of Dec. 31, it owned 2.6 million shares of Time Warner (Research), owner of Time Warner Cable, the nation's No. 2 cable operator, as well as a host of other media properties, including CNN/Money. It had no shares in Time Warner at the end of the third quarter.

Soros's fund also bought 17 million shares of satellite television operator Echostar Communications (Research) during the quarter, adding another company it did not own on its earlier report. And it bought 209,272 shares of media conglomerate News Corp. (Research), which besides owning a number of broadcast and cable networks recently gained satellite television provider DirecTV.

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LinuxInsurgent Donating Member (475 posts) Send PM | Profile | Ignore Tue Feb-15-05 10:02 AM
Response to Original message
1. yeay!
tyranny of Soros against Tyranny of Murdoch...

I feel free....
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itzamirakul Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:05 AM
Response to Reply #1
3. Good news ONLY IF...
they USE their ownership to brin forth some liberal Progressive shows.
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plcdude Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:05 AM
Response to Reply #1
4. and your solution to the right wing
bias of the media is?
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LinuxInsurgent Donating Member (475 posts) Send PM | Profile | Ignore Tue Feb-15-05 10:07 AM
Response to Reply #4
5. Regulation of the media
Edited on Tue Feb-15-05 10:07 AM by LinuxInsurgent
reinstate rational caps to media ownership...I don't want tyranny of soros over murdoch.

I support Soros political visions...but I'm not about replacing murdoch with him.
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pacalo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 02:12 PM
Response to Reply #5
21. I'm for Soros replacing Murdoch any day.
Soros knows what it's like to be at the mercy of fascists, & he has a tatoo on his arm to prove it.

Murdoch knows only greed & he doesn't care how he obtains his wealth. Shaking hands with the devil is no biggie to Murdoch; or haven't you noticed?
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tsuki Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 08:12 PM
Response to Reply #5
35. However, if the stranglehold over the news networks is broken, look
for the "Fairness Doctrine" to be re-instated.
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blm Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:20 AM
Response to Reply #1
7. Try minor tyranny of Bush-hating Soros v MAJOR TYRANNY of Bushloving
Edited on Tue Feb-15-05 10:21 AM by blm
Murdoch.
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sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:03 AM
Response to Original message
2. This is the best news we have had regarding MSM in a long time.
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Beetwasher Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:07 AM
Response to Original message
6. I Hope This Is The First Step In A MUCH BIGGER MOVE!!!
Edited on Tue Feb-15-05 10:08 AM by Beetwasher
Great friggin' news!!!!!

Go get 'em boys!!!!

Buffet and Soros working in tandem would be a real serious force to be dealt with!!! WOOOOHOOOO!!!!
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Spazito Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:22 AM
Response to Original message
8. Excellent news!
Thanks for this!
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spotbird Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:23 AM
Response to Original message
9. How close to a controlling interest is this purchase?
Can they afford Faux also?

Any bets as to how long it will be before the Fairness Doctrine will be reenacted?
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tsuki Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 08:13 PM
Response to Reply #9
36. Is Soros a naturalized citizen of the US?
Edited on Tue Feb-15-05 08:13 PM by tsuki
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Tweed Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:23 PM
Response to Reply #36
41. Is Murdoch?
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tsuki Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-16-05 01:11 AM
Response to Reply #41
44. Yes, but not before "special rules" were made for him to aquire so
much of the US media.
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Kenergy Donating Member (834 posts) Send PM | Profile | Ignore Tue Feb-15-05 10:25 AM
Response to Original message
10. This is good n/t
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peacetalksforall Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:38 AM
Response to Original message
11. If they enter the news business and
commit themselves to good old fashiioned 'freedom of the press' instead of 'political owndership of the press' we might be OK.

Anything but what we have: partisan, controlled, lying, omitting, distorting, court jestering, scandalizing, accusing, and trying people on tv instead of the courts - all with the purpose of providing Right Wing Propaganda dictated by coporations who are partners with the right wing cabal and who over-pander to fundamentalists....

If they take advertisements from corporations who do not provide over 50% of their contributions to the right wing efforts....

If they balance guest experts and expose the purpose of foundation the guest expert represents.....

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gumby Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:38 AM
Response to Original message
12. David Podvin published this yesterday
"Conservatives insist that the major problem with American politics is the bias of the liberal mainstream media, but the liberal mainstream media is a childish myth, not unlike unicorns or leprechauns or William Bennetts virtue. The real problem is that democracy becomes a farce when votes are cast based on corporate propaganda, and in a nation where a network anchorman recently was fired for telling the truth about his employers amoral political benefactor, corporate propaganda is the coin of the realm.

As George Soros and other wealthy Democrats analyze the best ways to subsidize the improvement of the American political system, they should realize that nothing would improve this country more than having a powerful liberal media to counteract the reportorial charlatans of the Fortune 500. If journalists were allowed to expose the Republican Partys blatant criminality, the conservative movement would quickly be discredited and disempowered."

----- more -------http://makethemaccountable.com/podvin/more/050214_TheLi...



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tsuki Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 08:16 PM
Response to Reply #12
37. "William Bennett's virtue." ROFL, best one of the day.
Edited on Tue Feb-15-05 08:16 PM by tsuki
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cascadiance Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:51 AM
Response to Original message
13. Interesting...
Edited on Tue Feb-15-05 10:51 AM by calipendence
I wonder if Soros is trying to corner the satellite TV market. Earlier the FTC prevented a DirectTV/Dish Network merger when Hughes (owner of Echostar) tried to buy out DirecTV.

Now it looks like Soros is investing in ownership of both DirectTV (News Corp) and Dish Network (Echostar)... I wonder how soon before he looks to buy controlling shares of Sirius and/or XM too? Maybe this is a prelude to guaranteeing that satellite TV all have a new liberal network of his showing there.

I doubt thought that Rupert Murdoch will let him get controlling access of News Corp though and not mess with his Fox News empire. I wonder what Soros has up his sleeve though...
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Griffy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 12:39 PM
Response to Reply #13
20. Soros wants to stop the fascist... the tatoo on his arm reminds him!
Edited on Tue Feb-15-05 12:40 PM by Griffy
He is not doing these things primarily to make more money.. he has plenty of that, I believe he feels a duty to use his great fortune to unseat the new nazis in this land!( heard him speak on AAR) I would trust (but verify) Soros and Buffet to bring us the truth.. in fact.. I believe they know that the can make money AND win morally.. because all of us are ready consumers for the truth, they see Air America rising.... we will win back our country!
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Merlin Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:54 AM
Response to Original message
14. There is an unmistakeable message in these buys.
These guys have spoken out clearly and passionately against the corporate and right wing dominance of the American broadcast media.

I am flabbergasted that they bought into News Corp! Does this presage a hostile takeover attempt? Certainly Rupert will now have to be looking over his shoulder.

I wouldn't be surprised if Ted Turner joins their cause as soon as he can extract what's left of his wealth from the people who duped him into selling CNN.

These guys are true heroes.

Hang in there. More shoes will be dropping.
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KissMeKate Donating Member (741 posts) Send PM | Profile | Ignore Tue Feb-15-05 10:56 AM
Response to Original message
15. why is soros supporting News corp by buying their stock?
eom
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proudbluestater Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 08:52 PM
Response to Reply #15
38. I wouldn't call it "supporting News Corp." but attempting to dilute it.
Make it less lethal. Shareholders have voting rights and rights to urge the corporation to do things it might not want to do. The more shares you own, the larger your voice.

Kudos to Buffet and Soros!!!
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Jeff in Cincinnati Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:59 AM
Response to Original message
16. Warren is getting wild and wooly in his old age...
This is the guy who is famously tech-adverse in his holdings (didn't own any Microsoft until fairly recently) and said he only purchased companies in industries that he understood.

Dumping healthcare and apparel for cable? Is this one of the signs of the End Times or what!

But seriously, if Warren is making a move like that, you can be sure that he sees some serious money down the road -- don't know if he has any political agenda behind the purchase. It could be that, for this particular deal, he and Soros have plans that dove-tail.
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GOPBasher Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 11:01 AM
Response to Original message
17. This is awesome, although
media reform is still one of the most important issues. Having said that, I'm sure glad we may actually have to progressive voices on the air now.
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cmd Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 11:08 AM
Response to Original message
18. Please buy Adelphia
Please, please, please........
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screembloodymurder Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 11:38 AM
Response to Original message
19. This isn't about politics. It's about money.
Cox Enterprises, a private company, just bought out Cox Communications, their public spin-off. It was the most egregious use of the markets I've ever seen, and I've seen some doozies. They used the public to raise capitol; then when it started to look profitable, they cooked up an inside deal with their spawn. No conflict here, move along.
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MasonJar Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 04:51 PM
Response to Original message
22. If you remember, a few weeks ago Soros met with two other
committed progressives to discuss how to save the nation from the Bushites. This could be page one. Oh, how I hope.
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caligirl Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 11:03 PM
Response to Reply #22
43. yes, that meeting took place hee in San Francisco, not even
his aides were allowed to here the discussion. It was several well to do democrats who met to plan strategy to take back what the repukes have stollen.
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buffy1 Donating Member (28 posts) Send PM | Profile | Ignore Tue Feb-15-05 05:22 PM
Response to Original message
23. Buffett, Soros make cable buys
http://money.cnn.com/2005/02/15/news/fortune500/buffett...


Buffett, Soros make cable buys

Buffett's firm doubles holdings in Comcast; Soros buys Time Warner, Echostar.
February 15, 2005: 10:09 AM EST


Berkshire Hathaway Chairman and CEO Warren Buffett.


NEW YORK (CNN/Money) - Billionaire investors Warren Buffett and George Soros are getting hooked up with cable.


This could be a very good thing for the DEMS!!!
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librechik Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:22 PM
Response to Reply #23
24. Time Warner--that's CNN!
I think Leslie better check his political compass--at the door!
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ayeshahaqqiqa Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:22 PM
Response to Reply #23
25. they tell about the holdings, but
not what percentage of the total holdings these folks hold. Anyone know?
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paineinthearse Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:22 PM
Response to Reply #23
26. For all the non-news crap posted recently to LBN I'd stopped watching
Edited on Tue Feb-15-05 05:20 PM by paineinthearse
but this is FANTASTIC!!!!!!!

I'm giving it am immediate nomination for the "greatest" page.
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zann725 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:22 PM
Response to Reply #26
29. Let's hope. I wish Ted Turner would start a small cable channel for us.
We need the 'voice.'
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CO Liberal Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:22 PM
Response to Reply #23
27. Once Soros Takes Control of Time Warner....
...I hope the first thing he does is fire Robert No-Facts and Rush Limbaugh's girlfriend from their jobs at CNN.
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zann725 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-16-05 03:15 AM
Response to Reply #27
45. I hope he also cuts back on CNN's religious-themed coverage lately.
Seems every time I channel surf past CNN, they're covering some story with a religious theme woven in. It's so obvious, tacky, and NOT "the most respected name in news."
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Catch22Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:22 PM
Response to Reply #23
28. Interesting...Berkshire Hathaway owns my company too
Question: why did Buffett volunteer to help Schwartzenegger with his campaign?
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salin Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 08:02 PM
Response to Reply #28
34. If I recall - he advised to raise some taxes to balance the budget
and his services were immediately no longer accepted by the ahnaald folks. I think he is a rather rationale, moderate. Soros, who has turned completely against contemporary US conservative thinking and influence peddling, is probably more likely to be interested in the media per moderating the rwing influence than Buffett... just my opinion.
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PROGRESSIVE1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:22 PM
Response to Reply #23
30. kick!
I hope they invest in some media for our side!
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onenote Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 10:55 PM
Response to Reply #23
42. before you get too excited
Comcast has over 900 million Class A Common shares issued and another 9.4 million Class B. The Class B shares, which are "supervoting" shares, are controlled entirely by the Roberts family. Buffett has 10 million Class A shares, which is around 1 percent of the Class A and an even smaller percentage of the voting shares. So its not like he's about to get control of Comcast. I haven't checked, but I'd guess that the numbers for Soros' investment in TW are equally insignficant in terms of control.

onenote
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Vidar Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-16-05 04:33 AM
Response to Reply #23
46. Good for Soros, but ultimately we need an independent media.
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SnoopDog Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:44 PM
Response to Original message
31. This is hot!
Soros into cable? Maybe this is the dream we have been waiting for. Many DUers over the past four months have 'asked' Soros to get into media. This could be our 'liberal' media.

It this really happens, and happens like we hope it happens, we have to support this. This might be our MSM of Truth!
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Arugula Latte Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 05:54 PM
Response to Original message
32. I've been having little glimmers of hope lately.
I haven't been hopeful since Nov. 1. But, I don't know, I feel like the fuckers have pushed people too far and that something is going on at the ground level (Dean, Soros, exposing Gannon, etc.) that will have good long-term ramifications for our side.
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biscotti Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-15-05 09:28 PM
Response to Original message
39. In addition
I saw a program about Buffet's wife. She is a neat liberal lady that is important in her own right.
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Mitt Chovick Donating Member (321 posts) Send PM | Profile | Ignore Tue Feb-15-05 09:55 PM
Response to Original message
40. It means cable stocks are undervalued
I've thought so for a year or two now.

Of course beware of ones with big debt on their balance sheets. Otherwise, buy, buy, buy.
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